SM Investments Corporation (SM) announced that its Board of Directors approved the placement of primary common shares worth USD150.0 million to institutional investors via a top up placement. Apart from raising additional funds for the company, the top up is meant to further enhance the free float and liquidity of SM shares.
SM has appointed Macquarie Capital (Singapore) Pte Limited as the underwriter and placing agent. The proceeds of the placement will be used to refinance some of the company’s existing obligations and for general corporate purposes.
The Board of Directors also authorized management to negotiate and finalize the terms and conditions, including pricing and any increase in issuance amount, and execute any and all documents necessary, to implement the placement.
For further information, please contact:
Ms. Corazon P. Guidote Senior Vice President for Investor Relations SM Investment Corporation Email address: cora.guidote@sminvestments.com Telephone number: 857-0117 - https://www.affordablecebu.com/
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"SM to issue new shares to institutional investors" was written by Mary under the Business category. It has been read 1743 times and generated 0 comments. The article was created on 24 August 2012 and updated on 24 August 2012.
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